How to Secure Pre-Foreclosure Deals?

Question

I am on the hunt to find some deals since I typically can't find good deals on the MLS. I found a few properties on Zillow that are in pre-foreclosure or accepting bank offers (is there a difference?), however, there is no person listed to contact? Who do I contact to find out more on those properties? Do I contact the lawyer? Is it even possible for me to directly contact the bank who owns the properly to offer a price on the home before it goes to auction? If so, what are all the steps to acquiring property this way?

Thanks for the Help!

Kerry Noble Jr · Answer

Preforeclosures are in your local newspapers. If you can get em before the auction date.....the better.

Brett Hulsebus · Answer

Hi Branden,

A site I use to use a while back was realtytrac.com for foreclosure/defaulted property information.  There is a monthly fee, but they have details that they pull from public record.  I think they still have a free trial option, so you can try it out and see if it would work for you.

Also, to follow up on what Elliott said, for pre-foreclosures contact the borrower directly.  Lenders/Servicers can't provide you any information or liquidate the property until after the foreclosure sale date.

Eliott Elias · Answer

Find the owner of record and skip trace them. If the property is in pre-foreclosure, you have a chance of purchasing the property directly from the owner and avoiding the foreclosure.